Vietnam needs drastic reforms for economic growth: experts
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
Vietnam’s economy has a good start with a growth rate of 5.66% in the first quarter of this year, the highest rate since 2020.
However, with a GDP growth rate target set at 7% per year by 2030, the Vietnamese economy needs to expand at 8% per year on average in the next six years, requiring hastened efforts to accelerate business environment reforms to create a firm ground for economic growth.
Insiders said public investment will remain a major growth driver this year.
According to experts, Vietnam should also take the opportunities arising from digital economy, circular economy, green growth, regional linkage, and international integration to promote the economic growth more sustainably.
These new growth drivers could help increase GDP by 0.9-1.4 percentage point in the context of global slowdown./.
Ho Chi Minh City's economic indicators showed decent growth in the first four months, although the disbursement rate of public investment remained low, participants heard at a socio-economic review meeting held by the municipal People's Committee on May 3.
In its April 2024 Asian Development Outlook (ADO) report, the Asian Development Bank (ADB) has maintained its earlier forecast for Vietnam’s economic growth this year, despite ongoing uncertainties from the external environment. Vietnam’s economy is expected to achieve a growth rate of 6.0% in 2024 and 6.2% in 2025.
The European Chamber of Commerce Vietnam (EuroCham) on April 8 released the Business Confidence Index (BCI) for the first quarter of 2024, saying that the index reached 52.8 points - the highest level since 2022.
At the 19th National Press Awards ceremony held in Hanoi on June 21 evening, where he presented the highest honours, Prime Minister Pham Minh Chinh stressed that, drawing from the glorious 100-year tradition, the revolutionary press must serve as an honest and objective voice with multifaceted, comprehensive, and inclusive reflections of the flow of life.
Tay Ninh, a border province in Vietnam’s southeastern region, is making great strides in tourism development by focusing on promoting its local cultural values, and community-based tourism, thus offering visitors unique and authentic experiences.
Listening to Quan ho folk songs, watching water puppetry, and playing traditional games - the Luy Lau Folk Culture Conservation Area offers a rich cultural space full of engaging activities for both visitors and children.
Party General Secretary, To Lam, has called on the Vietnamese revolutionary press to continue its vigorous growth, reaffirming its pioneering role on the ideological and cultural front in service of the national development cause.
The Vietnam News Agency (VNA) has been re-elected to the Executive Board of the Organisation of Asia-Pacific News Agencies (OANA) for the 2025–2028 tenure, marking the fifth consecutive term the VNA has held a seat on the board, which comprises 11 members in its new term.
A ceremony was held in Hanoi on June 21 by the Party Central Committee’s Commission for Information, Education and Mass Mobilisation, the Ministry of Culture, Sports and Tourism, and the Vietnam Journalists’ Association, to celebrate the 100th anniversary of the Vietnamese Revolutionary Press Day (June 21, 1925 – 2025).
At the 3rd Congress of the Vietnam Journalists’ Association in 1962, President Ho Chi Minh affirmed: “The duty of the press is to serve the people and the revolution.”
This summer marks significant changes in the travel habits of Vietnamese holiday makers, as they tend to seek experiences enjoying nature, culture and relaxation rather than crush to check-in as many destinations as possible like previously.
HP Inc. is looking to expand its production capacity in Vietnam with planned investment ranging from 2 – 3 billion USD, Antoine Colin, HP Senior Vice President for Global Supply Chain Digital Transformation & Resilience, told Prime Minister Pham Minh Chinh at a meeting in Hanoi on June 20.
Deputy Prime Minister Le Thanh Long joined delegates from 140 countries worldwide at the opening session of the 28th St. Petersburg International Economic Forum, themed “Shared Values: The Foundation of Growth in a Multipolar World” in the Russian city on June 19.
On September 15, 1945—just 13 days after President Ho Chi Minh proclaimed Vietnam’s independence—the Vietnam News Agency broadcast the full text of the Declaration of Independence in Vietnamese, French, and English. From that moment, the Vietnam News Agency or VNA became more than a news outlet—it was a strategic information agency, walking alongside the nation through every turni🐽ng point in it🏅s history.
The Vietnamese Goods Day was held on June 17 at Selgros Berlin Lichtenberg supermarket in Berlin, marking a significant step in promoting and expanding the presence of Vietnamese products in Germany and Europe at large.
The iconic Reunification Express of Vietnam has been named the number one experience on Lonely Planet’s newly released list of the 24 most incredible train journeys to book in 2025.
The Government remains attentive, supportive, and committed to creating an optimal environment for press agencies and journalists, in line with the Party’s guidelines, the State's policies and laws, and the Government’s authority, Prime Minister Pham Minh Chinh has said.
Russia’s cooperation with Southeast Asia is steadily expanding, with trade increasing across the region, including with Vietnam, President Vladimir Putin said on early June 19 (local time).
The National Press Festival 2025 officially opened at the National Convention Centre in Hanoi on June 19 morning, marking a pivotal moment for Vietnam's media landscape as the country is celebrating its 100th anniversary of the Revolutionary Press Day (June 21).
Prime Minister Pham Minh Chinh has approved a master plan on implementation of recommendations accepted by Vietnam under the fourth cycle of the Universal Periodic Review (UPR) of the United Nations Human Rights Council (UNHRC).
To mark the centenary of Viet Nam Revolutionary Press Day, the National Political Publishing House has released a book featuring President Ho Chi Minh’s teachings on the journalistic profession.
No wrongdoings or misconducts are allowed to occur at any stage of the upcoming high school graduation exam, in order to build a civilised, modern, humane, and high-quality education system, Prime Minister Pham Minh Chinh emphasised on June 18.
